On average, a rideshare driver completes 30 trips a week in the United States. As rideshare drivers are on the road more often than regular drivers, chances of a motor vehicle accident are highly likely to occur. Due to this reason, insurance companies will increase a rideshare driver’s premium. In the section below, we will go further into detail about rideshare drivers facing an increase in their insurance.
Victims of an Uber or Lyft accident are welcomed to contact our qualified personal injury attorneys at West Coast Trial Lawyers. We will review your case to determine what necessary steps are needed to ensure you get the compensation you deserve.
Will My Insurance Go Up if I Drive With Uber or Lyft?
If you become an Uber or Lyft driver, your insurance will go up, which is why you need to tell your insurance provider that you are working for a rideshare company. If you do not inform your insurance provider, they may not cover your damages or other costs if you were to get into an accident.
Once you tell your insurance provider that you are working for a rideshare company, they will likely increase your premium. This is primarily due to the lengthy and frequent drives you will be taking to pick up and drop off riders. Since a rideshare driver is on the road for a long period of time, it is more likely for them to get into an accident compared to a regular driver. Car accidents cost insurance companies money, which is why they pass this cost onto drivers through higher premiums.
Other than your insurance costs going up, driving for a rideshare company will have you switch insurance providers completely. The insurance industry has been fairly slow about adjusting to a rideshare driver’s needs. Instead of creating options for Uber and Lyft drivers, some insurance companies refuse to offer them coverage. A number of insurance carriers will not let you be insured with them if you are using your car for rideshare purposes. Even though your insurance carrier may not actually allow rideshare coverage, you need to inform them about your job anyway.
When you update your insurance plan, you should carefully read through the policy. There may be a gap in coverage when it comes to your car’s physical damage in an accident. Any coverage gaps could leave you paying for a bunch of out-of-pocket expenses if an accident occurs. While a coverage gap may be acceptable to you, you need to know whether it exists or not so that you can make an informed decision.
Uber and Lyft Insurance Policies
Uber and Lyft provide ridesharing insurance to rideshare drivers who are involved in an accident. Their insurance policies are divided into four different periods.
Contact West Coast Trial Lawyers Today
If you have sustained injuries as a result of a rideshare accident, our expert Uber and Lyft accident attorneys at West Coast Trial Lawyers will help you recover compensation for the losses you have suffered, including medical bills, property damage, lost wages, and pain and suffering.